From recklessness to prudence: a study of regulatory space change in Indonesian banking from 1997 to 2008
<p>This thesis seeks to explore the question of what it is that brings about regulatory change. Traditionally, regulation studies tend to assume that, in circumstances where a regulatory change occurs, a state or governing structure is somehow present and sufficiently powerful to engineer or d...
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| Format: | Thesis |
| Language: | English |
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2016
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| _version_ | 1797091606980984832 |
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| author | Leach, M |
| author2 | Lange, B |
| author_facet | Lange, B Leach, M |
| author_sort | Leach, M |
| collection | OXFORD |
| description | <p>This thesis seeks to explore the question of what it is that brings about regulatory change. Traditionally, regulation studies tend to assume that, in circumstances where a regulatory change occurs, a state or governing structure is somehow present and sufficiently powerful to engineer or direct change processes. This thesis will explore the forces that come to bear on regulatory change by examining a case study where one cannot easily make such an assumption. Between 1997 and 2008, banks in Indonesia significantly changed their business practices and behaviour. In 1997, on the eve of the disastrous Asian Financial Crisis, they engaged in banking business in an unrestrained and risk tolerant way in relative disregard of the formal regulatory framework that demanded greater prudence from them. A decade later, however, the banks by and large had taken on a restrained, risk-adverse, and more law-abiding character. Although such prudent behaviour was in line with government policy at the time, one cannot assume that the government had the ability to coerce such a widespread change during that decade, given the massive social and political turmoil that came in the wake of the crisis wiping out the economy and causing President Soeharto’s 30-year regime to collapse.</p> <p>This thesis deploys an adapted version of Hancher and Moran's 'regulatory space' approach to explain how such a dramatic behavioural turnaround could have nevertheless occurred in a context where the government was in a state of relative weakness. The approach will be modified, however, in order to address issues of behavioural change within a context of banking. Specifically, it will turn to notions of aggregation of micro-level actor behaviour across a space to show links between regulatory space change and behavioural change. In so doing, it will argue that the Indonesian case study reveals that regulatory change is the outcome of a space-wide process that results from the aggregated interdependent and interacting relationships of regulatory actors whose behaviour changes as they respond to contextual changes in their circumstances.</p> |
| first_indexed | 2024-03-07T03:35:27Z |
| format | Thesis |
| id | oxford-uuid:bc21615f-6ecd-40f0-b069-6f305815098d |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T03:35:27Z |
| publishDate | 2016 |
| record_format | dspace |
| spelling | oxford-uuid:bc21615f-6ecd-40f0-b069-6f305815098d2022-03-27T05:22:13ZFrom recklessness to prudence: a study of regulatory space change in Indonesian banking from 1997 to 2008Thesishttp://purl.org/coar/resource_type/c_bdccuuid:bc21615f-6ecd-40f0-b069-6f305815098dBanking lawIndonesiaEnglishORA Deposit2016Leach, MLange, B<p>This thesis seeks to explore the question of what it is that brings about regulatory change. Traditionally, regulation studies tend to assume that, in circumstances where a regulatory change occurs, a state or governing structure is somehow present and sufficiently powerful to engineer or direct change processes. This thesis will explore the forces that come to bear on regulatory change by examining a case study where one cannot easily make such an assumption. Between 1997 and 2008, banks in Indonesia significantly changed their business practices and behaviour. In 1997, on the eve of the disastrous Asian Financial Crisis, they engaged in banking business in an unrestrained and risk tolerant way in relative disregard of the formal regulatory framework that demanded greater prudence from them. A decade later, however, the banks by and large had taken on a restrained, risk-adverse, and more law-abiding character. Although such prudent behaviour was in line with government policy at the time, one cannot assume that the government had the ability to coerce such a widespread change during that decade, given the massive social and political turmoil that came in the wake of the crisis wiping out the economy and causing President Soeharto’s 30-year regime to collapse.</p> <p>This thesis deploys an adapted version of Hancher and Moran's 'regulatory space' approach to explain how such a dramatic behavioural turnaround could have nevertheless occurred in a context where the government was in a state of relative weakness. The approach will be modified, however, in order to address issues of behavioural change within a context of banking. Specifically, it will turn to notions of aggregation of micro-level actor behaviour across a space to show links between regulatory space change and behavioural change. In so doing, it will argue that the Indonesian case study reveals that regulatory change is the outcome of a space-wide process that results from the aggregated interdependent and interacting relationships of regulatory actors whose behaviour changes as they respond to contextual changes in their circumstances.</p> |
| spellingShingle | Banking law Indonesia Leach, M From recklessness to prudence: a study of regulatory space change in Indonesian banking from 1997 to 2008 |
| title | From recklessness to prudence: a study of regulatory space change in Indonesian banking from 1997 to 2008 |
| title_full | From recklessness to prudence: a study of regulatory space change in Indonesian banking from 1997 to 2008 |
| title_fullStr | From recklessness to prudence: a study of regulatory space change in Indonesian banking from 1997 to 2008 |
| title_full_unstemmed | From recklessness to prudence: a study of regulatory space change in Indonesian banking from 1997 to 2008 |
| title_short | From recklessness to prudence: a study of regulatory space change in Indonesian banking from 1997 to 2008 |
| title_sort | from recklessness to prudence a study of regulatory space change in indonesian banking from 1997 to 2008 |
| topic | Banking law Indonesia |
| work_keys_str_mv | AT leachm fromrecklessnesstoprudenceastudyofregulatoryspacechangeinindonesianbankingfrom1997to2008 |